Dia Bras announces results from its Bolivar Pilot-Mining program

Dia Bras Exploration Inc. is pleased to report the first quarter 2008 results from its c in Chihuahua, Mexico.

Highlights:-

Production value of US$6.9 million in Q1-2008, a 32.69% increase over Q1-2007
Record production of copper concentrate with 2,249 DMT produced
Costs improvement contributes to generate a US$3.8 M direct operating cash margin

During the first quarter of 2008, the Company processed 32,595 tonnes of material from the Bolivar Mine property averaging grades of 2.35% Cu and 7.26% Zn, producing 2,249 DMT of copper concentrate and 3,448 DMT of zinc concentrate compared with 30,014 tonnes of material processed, with average grades of 1.34% Cu and 6.77% Zn, producing of 1,172 DMT of copper concentrate and 2,987 DMT of zinc concentrate in 2007.

First quarter production value amounted US$6.9 million, a 32.69% increase over last year’s corresponding period of US$5.2 million.

The increase in production value compared to Q1-2007 is mostly attributable to higher copper grades, the strong performance of copper market prices and increased mill throughput.

Increased production value from higher zinc grades compared to last year period was offset by the decrease in zinc market prices during that period.

Non-GAAP measures: The Company reports net smelter production value (net treatment of refining charges), direct operating cash costs (including development), direct operating cash margin (FOB Malpaso mill) and operating cash costs/DMT (including development) even if they are non-GAAP measures to indicate the approximate value of the year’s sales, and to isolate the measure of pilot-mining operation cost activities less amortization and depreciation.

The Company believes this is useful supplemental information. However, it should not be considered as a substitute for measure of performance prepared in accordance with GAAP.

Net smelter production value is calculated using quarterly monthly average metal prices of may defer from future realized prices.